June 21st Mr. Danelon came to council, watch the full discussion on Youtube, Essex Ontario starting at the 16:40 minute mark. Please watch the full discussion and all the questions by council.
Mark Danelon, Chief Financial Officer, Director Stakeholders Relations,
E.L.K. Energy Inc. 2020 Consolidated Financial Statements
That the presentation of the 2020 Consolidated Financial Statements of
E.L.K. Energy Inc., by Mark Danelon, Chief Financial Officer, Director
Stakeholders Relations, E.L.K. Energy Inc. be received;
That Council supports the signing of the annual resolutions of E.L.K.
Energy Inc. appointing the Directors and KPMG as auditor; and
That the Mayor be thereby authorized to sign the documents on behalf
of The Corporation of the Town of Essex.
Questions Still Remain so I am hoping council will support requesting more information
Robert can you please enter the following Notice of Motion at our next council meeting to be discussed at the following meeting pending a seconder,
“ELK board meetings are closed to council, shareholders and the public therefore council members as the elected representatives of the municipality will never know the status of ELK Energy’s asset management plan. The closed ELK board meetings do not allow for council, who represents the shareholders to even have a full discussion about the utility we own because the closed-door meeting topics cannot be discussed. That council being representatives of the shareholders has an obligation to be diligent in all assets of the municipality, request that ELK board meeting minutes be open to council and or the asset management plan be shared with the council of the Town of Essex. That the council of the Town of Essex request the Board Chair Ron McDermott to raise this request at the next scheduled ELK Board meeting as per current Mayor Snively’s suggestion at the June 21st council meeting”
The Ontario Energy Board oversees all Local Distributing Companies. I pulled some data for your interest. The Distribution System Plan is something I would compare to an Asset management plan. Again not being a board member and a shareholder there are many questions that continue to go unanswered. I am not requesting details but trying to get an overall understanding of asset condition and have peace of mind for ELK Energy rate payers and the Town of Essex shareholders.
